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InvestorIntel Week in Review for July 11-17, 2022

Meeting with Jack Lifton and Stephen Lautens later today to discuss a Critical Minerals Summit this Fall. As we continue to work with global leaders in this sector, finding a way to share the data we secure on the ESG and Critical Minerals sector is a priority for our readership and audience always ready to be first to market with the benefits of our investor intelligence.

Speaking of intelligence, may I graciously recommend that you watch this interview I did with Cam Currie, who is a Sr Investment Advisor with Canaccord Genuity Wealth Management and the Principal for the Currie Metals and Mining Group that was published early morning Click Here. Seriously, before you enter the market seas today, grab onto this Baywatch lifeguard and hear his advice —- he offers to save us from the stagflation undercurrents with some real advice (Tip: #gold, #basemetals, and #preciousmetals).

Would like to thank our friends at Silver Bullet Mines on announcing the production of silver last week. It did not escape notice to me in reviewing the Top 10 items that are Trending for our last 30-days that someone is looking up #scandium and #ImperialMining (see #6 and #7)….

Top 10 Trending on InvestorIntel.com

  1. DoD awards Australia’s Lynas $120 million to build a heavy rare earths facility in the USA: I have questions https://bit.ly/3bqMHqX (June 28, 2022 – Editor, Jack Lifton)
  2. Dev Randhawa of Fission 3.0 talks about US reliance on Russian uranium https://bit.ly/3yi2Zv6 (June 23, 2022 – Interview Host, Tracy Weslosky)
  3. Byron W King talks to Energy Fuels and Ur-Energy about ramping up US uranium production https://bit.ly/3u0oLRn (June 24, 2022 – Interview Host, Byron W King)
  4. The Critical Minerals List is Becoming More Critical https://bit.ly/3a2XIOy (June 27, 2022 – Editor, Robert Scannell)
  5. Gold company Presidents and CEOs talk about the return of gold investments and investors https://bit.ly/3y0scZt (June 27, 2022 – Interview Host, Stephen Lautens)
  6. Peter Cashin of Imperial Mining talks about scandium’s importance and the need for domestic supply https://bit.ly/3yc3kzx (June 22, 2022 – Interview Host, Byron W King)
  7. Peter Cashin on the “earth shattering” PEA for Imperial Mining’s Crater Lake Scandium-REE deposit https://bit.ly/3n5CouN (June 21, 2022 – Interview Host, Tracy Weslosky)
  8. The Uranium Bull in the Room – Why the Excitement is Back https://bit.ly/3Ngjc8p (June 23, 2022 – Interview Host, Tracy Weslosky)
  9. Tungsten – the other critical metal and a way to play it https://bit.ly/3IK8B4S (July 1, 2022 – Editor, Byron W King)
  10. Jack Lifton talks with Dr. Anthony Mariano, “the most senior rare earths geologist on the planet” https://bit.ly/3yr7fIT (June 28, 2022 – Interview Host, Jack Lifton)

Other InvestorIntel Interviews published last week for your viewing enjoyment include:

  • July 15, 2022 – Peter Clausi of Silver Bullet Mines talks about its first silver production https://bit.ly/3citw2X
  • July 15, 2022 – Pierre Gauthier of Auxico Resources talks about recent off-take agreements and rare earths trades https://bit.ly/3cbRpZT

And in case you missed some of our InvestorIntel Feature Columns, I must confess that my personal favorite was the one done by Dean Bristow on the new S&P/TSX Battery Metals Index.

  1.  With a new PEA Search Minerals’ rare earths projects deserve a serious look https://bit.ly/3zarye2
  2. The new S&P/TSX Battery Metals Index – what were they thinking? https://bit.ly/3P9nbFA
  3. Graphite: The Top 5 North American Players to Watch https://bit.ly/3z11Kkg
  4. Friedland likes Fjordland’s chances of finding nickel https://bit.ly/3aw8UDP
  5. InvestorIntel Week in Review for July 4-10, 2022 https://bit.ly/3nW0VTu
  6. The Secret that Elon Musk and Twitter Share https://bit.ly/3P0Ou4H

I always start my Monday by reviewing some of the ii8 System client news releases for the week prior to today. If you see below, we had news from Imperial Mining – must call Peter Cashin for an interview….

 News Releases:

  •  July 18, 2022 – Zentek Files a Provisional Patent on the use of ZenGUARD(TM) as an Anti-Inflammatory Agent https://bit.ly/3PiFrMC
  • July 18, 2022 – Volcanic Presents Update on Plans for Guatemala and Proposes Extension of Previously Issued Share Purchase Warrants https://bit.ly/3IMAJEy
  • July 15, 2022 – Bald Eagle Announces Results of its Annual General and Special Meeting of Shareholders https://bit.ly/3odzjJU
  • July 15, 2022 – Romios Announces Appointment of Stephen Burega as CEO https://bit.ly/3IVAM13
  • July 15, 2022 – Awakn Life Sciences Provides a Business and Corporate Update https://bit.ly/3B0zNKG
  • July 14, 2022 – Nano One Annual General Meeting and Investor Update https://bit.ly/3Odsr9I
  • July 14, 2022 – Sixth Wave Commercializes Affinity(TM) System with $3.5M License to AESI https://bit.ly/3yEUARl
  • July 14, 2022 – Further Outstanding Drill Results achieved at Halleck Creek Rare Earth Project https://bit.ly/3AOlZmw
  • July 13, 2022 – Silver Bullet Mines Corp. Produces Silver https://bit.ly/3z4cSx2
  • July 13, 2022 – Azincourt Energy Identifies Uranium Enrichment at the East Preston Project https://bit.ly/3yAKHUH
  • July 12, 2022 – Silver Bullet Mines Corp. Announces Settlement of Debt https://bit.ly/3o23ROB
  • July 12, 2022 – Westward Gold Announces its Inaugural Drill Campaign is Nearing Completion https://bit.ly/3RuTdgA
  • July 12, 2022 – Imperial Mining Increases Scandium and Rare Earth Recoveries on Its Crater Lake Development Project, Quebec https://bit.ly/3NYOlxy
  • July 12, 2022 – Ucore Upscales its REE Demo Plant Capabilities and Streamlines the RapidSX Commercial Deployment Plan https://bit.ly/3O0dKXD
  • July 12, 2022 – Troilus Reports Metallurgical Recoveries of 95.5% Gold, 95.9% Copper and 92.8% Silver From Zone Z87 Pilot Plant Test Program https://bit.ly/3O1RVHd

Wishing everyone an outstanding week and thank you for reviewing my Week in Review. To follow me on Twitter, go to @TracyWeslosky.




Byron W King talks to Energy Fuels and Ur-Energy about ramping up US uranium production

In this InvestorIntel interview during PDAC 2022, host Byron W King is joined by Energy Fuels Inc.‘s (NYSE American: UUUU | TSX: EFR) Vice President of Marketing and Corporate Development Curtis Moore, and Ur-Energy Inc.‘s (NYSE American: URG | TSX: URE) Chairman, CEO, and President John Cash

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), John and Curtis discuss world supply of uranium, which comes mostly out of Russia and Kazakhstan, and the capability of US producers to ramp up production quickly in case of increased demand or foreign supply problems. They also talk about the newly proposed, but short on details, $4 billion US uranium support program that John Cash says will “probably be mostly focused on enrichment and conversion, but the feedstock for those two processes would likely come from domestic mines.”

Curtis talks about Energy Fuels’ White Mesa Mill, the only conventional uranium mill left in the United States, which has been has recently been focused on rare earth elements, but he says “we’re actually right now getting ready to switch over to producing uranium” as markets come back and Energy Fuels has sign a couple of long-term contracts with some US utilities.”

To access the full InvestorIntel interview, click here

Don’t miss other InvestorIntel interviews. Subscribe to the InvestorIntel YouTube channel by clicking here.

About Energy Fuels Inc.:

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of rare earth element (“REE“) carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, and has the ability to recycle alternate feed materials from third parties, to produce vanadium when market conditions warrant, and to produce REE carbonate from various uranium-bearing ores. Energy Fuels is also evaluating the potential to recover medical isotopes for use in targeted alpha therapy cancer treatments. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3Oper year. In addition to the above production facilities, Energy Fuels also has one of the largest SK-1300/NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.

To learn more about Energy Fuels Inc., click here

About Ur-Energy Inc.

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged, and shipped approximately 2.6 million pounds U3Ofrom Lost Creek since the commencement of operations. Ur-Energy now has all major permits and authorizations to begin construction at Shirley Basin, the Company’s second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur‑Energy is engaged in uranium recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur‑Energy’s common shares is on the NYSE American under the symbol “URG.” Ur‑Energy’s common shares also trade on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is located in Littleton, Colorado and its registered office is located in Ottawa, Ontario.

To know more about Ur-Energy Inc., click here

Disclaimer: Energy Fuels Inc. and Ur-Energy Inc. are advertorial members of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




The Uranium Bull in the Room – Why the Excitement is Back

In this InvestorIntel PDAC 2022 Panel on “The Uranium Bull in the Room”, host Tracy Weslosky is joined by Energy Fuels Inc.‘s (NYSE American: UUUU | TSX: EFR) Vice President of Marketing and Corporate Development Curtis Moore, Appia Rare Earths & Uranium Corp.‘s (CSE: API | OTCQX: APAAF) CEO and Director Tom Drivas, Standard Uranium Ltd.‘s (TSXV: STND | OTCQB: STTDF) CEO and Chairman Jon Bey, and U3O8 Corp. (NEX: UWE.H) President, CEO and Director Dr. Richard Spencer.

In the video, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Curtis Moore says that there was a lot of excitement at PDAC this year over uranium, with the spot price rising and nuclear power being an essential part of the world-wide commitment to carbon-free energy production. Dr Richard Spencer added that “you cannot get to net zero without nuclear” and that a “fundamental driver of the uranium space at the moment is the small modular reactors.”

Jon Bey points out that Canada is moving forward with plans for small modular reactors in several provinces, including Saskatchewan. “Isn’t it amazing the place where uranium is being mined is actually going to be powered by nuclear?”

The panel discusses how the Sprott Physical Uranium Trust has had an impact on the uranium market. Energy Fuels’ Curtis Moore observes that the Sprott fund “basically swept up a whole bunch of excess inventories that were floating around the market, being traded around and keeping the price depressed,” and has resulted now in “a nice uplift in the price.”

The drive to secure a domestic supply of uranium is also discussed, as well as the concerns about “Russia controlling about two-thirds of the world’s uranium resources.” Tom Drivas says that with current geopolitical uncertainties “even eastern European countries are looking to uranium outside of Russia.”

To access the full InvestorIntel interview, click here

Don’t miss other InvestorIntel videos. Subscribe to the InvestorIntel YouTube channel by clicking here.

About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of rare earth element (“REE“) carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, and has the ability to recycle alternate feed materials from third parties, to produce vanadium when market conditions warrant, and to produce REE carbonate from various uranium-bearing ores. Energy Fuels is also evaluating the potential to recover medical isotopes for use in targeted alpha therapy cancer treatments. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3Oper year. In addition to the above production facilities, Energy Fuels also has one of the largest SK-1300/NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.

To learn more about Energy Fuels Inc., click here

About Appia Rare Earths & Uranium Corp.

Appia is a Canadian publicly-listed company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 105,026 hectares (259,525 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.

To learn more about Appia Rare Earths & Uranium Corp., click here

About Standard Uranium Ltd.

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. Davidson River is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries.

To learn more about Standard Uranium Ltd., click here

About U3O8 Corp.

U3O8 Corp. is focused on the development of the Berlin Deposit in Colombia. Apart from uranium for clean, nuclear energy, the Berlin Deposit contains battery commodities; nickel, phosphate and vanadium. Phosphate is a key component of lithium-ion ferro-phosphate (“LFP”) batteries that are being used by BYD, Tesla and a growing list of electric vehicle manufacturers. Nickel is a component of various lithium-ion batteries, while vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the rare earth elements contained within the Berlin Deposit, is a key component of powerful magnets that are used to increase the efficiency of electric motors and in generators in wind turbines.

The Company’s mineral resource estimate for the Berlin Deposit was made in accordance with National Instrument 43-101. The preliminary economic assessment (“PEA”) on the Berlin Deposit showed positive economics and highlighted areas in which both operating, and capital costs could be reduced to enhance the economics of the deposit. Extensive metallurgical test work showed that revenue streams would be dominated by uranium, phosphate, nickel, vanadium and rare earth elements, of which only two were considered in the economic assessment.

A PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

To learn more about U3O8 Corp., click here

Disclaimer: Energy Fuels Inc., and Appia Rare Earths & Uranium Corp. are advertorial members of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




Mark Chalmers and Constantine Karayannopoulos on working together to supply rare earths magnets

In this InvestorIntel PDAC 2022 Panel on “Rare Earths, Sustainability & Meeting the EV Market Demand”, host Tracy Weslosky is joined by Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) President and CEO Mark Chalmers and Neo Performance Materials Inc. (TSX: NEO) President, CEO and Director Constantine Karayannopoulos, to talk about their unique business relationship and the challenges and opportunities of getting rare earths magnets to market.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Mark talks about the unique relationship between Energy Fuels and Neo Performance Materials to integrate the rare earths process and meet the increasing world demand for providers of EV materials from outside of China. Constantine describes the moment when he and Mark “realized that between the two of us we had all the pieces of the puzzle and that we could put together a very full supply chain.”

Constantine goes on to discuss how Neo Performance Materials works with Energy Fuels in Utah, which “takes out the uranium for the uranium business for his customers and recovers the rare earths in a way that works for us,” separating the rare earth elements, turning them into metals alloys and finally the magnets needed by the EV industry.

Mark says that the relationship between the two companies work not only because they each have something that the other needs, but because “we are doers, not promoters. We’re trying to accomplish big things by actually doing it on the ground.” With increasing demand from European EV automakers, Mark goes on to say “we’re looking at being a world significant integrated supplier of rare earth products from the beginning to the end.”

To access the full InvestorIntel interview, click here

Don’t miss other InvestorIntel interviews. Subscribe to the InvestorIntel YouTube channel by clicking here.

About Energy Fuels Inc.:

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of rare earth element (“REE“) carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, and has the ability to recycle alternate feed materials from third parties, to produce vanadium when market conditions warrant, and to produce REE carbonate from various uranium-bearing ores. Energy Fuels is also evaluating the potential to recover medical isotopes for use in targeted alpha therapy cancer treatments. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3Oper year. In addition to the above production facilities, Energy Fuels also has one of the largest SK-1300/NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.

To learn more about Energy Fuels Inc., click here

About Neo Performance Materials Inc.

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders and magnets, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products help to deliver the technologies of tomorrow to consumers today. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, US; Singapore; and Beijing, China. Neo operates globally with sales, research and development, and production facilities and offices across 10 countries: Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea.

To learn more about Neo Performance Materials Inc., click here

Disclaimer: Energy Fuels Inc. and Neo Performance Materials Inc. are advertorial members of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at info@investorintel.com.




We’re Back – PDAC mood positive in spite of sagging market

After an absence of more than two years, PDAC was back this week. Even lingering Covid concerns and soft markets couldn’t dull the enthusiasm at the world’s largest mining and investor trade show back in person for the first time since 2020.

Attendance was down from pre-pandemic highs with the official count placing this year at almost 17,500 visitors (compared to in-person 23,000 attendees in 2020), but you wouldn’t have known it from the first day’s crush at registration. Either surprised or out of practice, PDAC officials struggled to sign in thousands of people who showed up on the opening day. At one point police shut the outer doors to the Metro Convention Centre because the registration floor was over the safe capacity. Once inside there was still an over half hour wait for pre-registered attendees to get their badges. But miners and investors are by necessity a patient lot, and none of the first day’s initial delays dampened the enthusiasm of being back in person.

For years the industry and investors have tried to judge market sentiment for the coming year by the “mood on the floor”. The mood at PDAC 2022 was decidedly upbeat and enthusiastic, even as the S&P/TSX and the Venture Composite Indexes dropped between Monday and Wednesday as people were packing up their booths. The buoyant mood might have been the result of the joy of seeing people again, but there was a genuine feeling of optimism for the gold, nickel, silver and critical materials sectors, especially among the large number of companies who had secured financing this spring for continued exploration and development in 2022.

As a PDAC media sponsor, InvestorIntel found a number of old favorites and hidden gems on the trade show floor, some of which we will be bringing to the attention of our readers in the next few weeks. Some companies have been quietly expanding and developing their projects during Covid and now deserve a wider audience.

The InvestorIntel PDAC Panel Series: “The Uranium Bull in the Room” with moderator Tracy Weslosky and panelists  Dr. Richard Spencer from U3O8 Corp., Tom Drivas from Appia Rare Earths and Uranium,  Curtis Moore from Energy Fuels, and Jon Bey from Standard Uranium.

We also took the opportunity to catch up with some leading CEOs and industry experts for an update and analysis on markets, commodities and progress on properties. These informative panel discussions will be available as videos next week on InvestorIntel.com and our YouTube channel.

If the energy and enthusiasm (not to mention the packed hospitality suites) of PDAC 2022 is any indicator, market sentiment is extremely high for a good second half of this year. It’s not a very scientific measurement, but at this point, we’ll take it.




InvestorIntel is digging for stories at PDAC 2022

PDAC 2022 is underway, and InvestorIntel is one of the media sponsors at the world’s largest mining and exploration convention. We are busy looking for new stories and meeting old friends at the first in-person PDAC since 2020.

Monday through Wednesday (June 13-15), InvestorIntel is conducting exclusive interviews with industry leaders, presidents and CEOs of some of the most interesting silver, gold, rare earths, uranium and other critical materials companies.

On Monday our first panel was Rare Earths, Sustainability & Meeting the EV Market Demand hosted by InvestorIntel CEO and Founder Tracy Weslosky with panelists Mark Chalmers, President and CEO of Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) and Constantine Karayannopoulos, President, CEO and Director of Neo Performance Materials Inc. (TSX: NEO).

Our next panel discussion was hosted by Chris Thompson of eResearch on Silver, The Technology Metal & Market with Byron W. King, InvestorIntel columnist, Bald Eagle Gold Corp.‘s (TSXV: BIG) CEO Chris Paul, Silver Bullet Mines Corp.‘s (TSXV: SBMI) VP Capital Markets and Director Peter Clausi, and Simon Ridgway, Founder, Director, President and CEO of Volcanic Gold Mines Inc. (TSXV: VG).

To finish off Monday’s schedule, InvestorIntel columnist and renowned critical materials expert Byron W. King, led a panel discussion on Building the EV Material Supply Chain with Appia Rare Earths & Uranium Corp.‘s (CSE: API | OTCQB: APAAF) President Frederick Kozak, Search Minerals Inc.‘s (TSXV: SMY | OTCQB: SHCMF) President, CEO, and Director Greg Andrews, Avalon Advanced Materials Inc.’s (TSX: AVL | OTCQB: AVLNF) President, CEO and Director, Don Bubar, and Vital Metals Limited‘s (ASX: VML | OTCQB: VTMXF) Managing Director, Geoff Atkins.

If you are at PDAC, be sure to visit the InvestorIntel media studio on Level 700.




Uranium and Rumors of Wars

“You will hear of wars and rumors of wars, but see to it that you are not alarmed. Such things must happen, but the end is still to come.”  Matthew 24:6.

Recently, rumors about uranium have moved markets. When it comes to rumors, Matthew 24:6 speaks for itself. But let’s also look to Bloomberg News, which is not quite the Bible but is still considered reliable:

“The Biden administration is pushing lawmakers to support a $4.3 billion plan to buy enriched uranium directly from domestic producers to wean the U.S. off Russian imports of the nuclear-reactor fuel. … Shares of uranium companies surged.”

Which prompts me to wonder, were you one of those uranium share buyers, dear reader?

After all, the idea of stock trading is to buy the rumor. And definitely, this talk of a massive U.S. government uranium buy is a very good rumor.

But the other half of that old market aphorism about buying rumors is to sell the news. So, what’s the “news” about U.S. uranium? I’ll tell you a few things about that in just a moment.

Meanwhile, you may be wondering how long to hold and remain in the uranium play.

Should you sit tight, or even buy more uranium shares in the expectation of more gains? Or should you, perhaps, take some of the upside off the table sooner versus later? Because after all, there are risks in holding and waiting. Again, we’ll dig into this below.

First, it’s about time that something big happened in the U.S. nuclear space. If for no other reason this rumor of a future government buy is upbeat because over the past three decades, so little has happened with U.S. nuclear, aside from a long and seemingly inexorable rundown.

Indeed, the past decade has been immensely frustrating to investors who trade the uranium space in the U.S. or any other country. We’ve seen numerous false starts, trips, stumbles, range-bound trading and even serious downward, capital-killing moves.

But now, along comes the Biden administration and drops a hint of supposed multibillions flowing into the sector. Which prompts an immediate question, what is there to buy out there? Again, hang on for a moment.

Answering that query requires understanding some history. And the quick rundown is that from the 1940s to the 1970s, the U.S. pioneered much of the world’s nuclear science and technology – with the assistance of foreign scientists and allies, to be sure.

The World War II-era Manhattan Project speaks for itself, along with its programmatic successor the Atomic Energy Commission (AEC). And of course, the Soviet Union had its own, parallel massive program throughout the Cold War.

By the 1980s the U.S. had built a vast nuclear complex, ranging from uranium mines and mills through the entire processing cycle. The U.S. enriched uranium fuel for nuclear power production, as well as super-enriched the metal for bomb-grade materials.

Equally important, by the 1980s the U.S. had a sizeable workforce within the nuclear space, well up into several hundred thousand people. These ranged from miners in the field to processors, and technicians, to top-level scientists and engineers inside the labs, processing plants and other industrial landscape.

Also, and just as important, in the 1980s the U.S. could boast of an entire educational pipeline that trained people in skilled trades related to nuclear, up to the most advanced academic research.

The short version of what happened is that almost all of those people, and most of the training pipeline, long ago atrophied and fell apart. Today, the U.S. labor force, from mines to laboratories is a pale shadow of what it used to be.

With this setup, let’s now focus on where the U.S. nuclear industry stands. That is, just what kind of bang for the buck (pardon the phrase) will the U.S. government get for dropping well over $4 billion onto the country’s nuclear space?

The first question is how much uranium does the U.S. produce right now? And the answer is, just about none. Okay, slightly more than z-e-r-o. In fact, in 2021 the amount of uranium mined in the U.S. was 10 tonnes, or 21,000 pounds per the U.S. Department of Energy (DOE).

In the context of global mining, in which well over 50,000 tonnes have been produced per year, worldwide, over the past two decades, U.S. output of primary uranium ore in 2021 was negligible, if not statistical noise.

And yes, perhaps that 2021 number – 10 tonnes – shocks you. It is so small that it’s negligible. But consider year 2020, when the U.S. output number was even smaller; so small that the DOE didn’t even publish it. Rumor has it that the U.S. produced all of 6 tonnes of uranium in 2020.

Meanwhile, it’s worth examining the U.S. mining workforce in the uranium space. And fortunately, DOE tracks those numbers as well.

In 2021 the U.S. had 32 people working in uranium mining, and 52 workers in processing. Total of 84. Yes, seriously. Those are DOE numbers, not typos.

Looking at the industry with a wider aperture, from exploration to mining, processing and environmental reclamation, total U.S. employment in primary uranium currently totals around 200.

Think about it. That’s 200 people in uranium, out of a vast U.S. population of about 350 million. Another way of saying it is that the U.S. has almost no skilled workforce for uranium production.

The next question that may pop into one’s head is how does the U.S. keep its fleet of power plants running – civilian and military – if the country produces so little uranium? Easy, the U.S. imports nuclear fuel from Kazakhstan, Canada, Namibia, Australia and many other countries, including… yes… Russia.

And along those lines, Russia has a very robust uranium sector, ranging from mines and mills to processing and enriching. No, there’s no shortage of uranium-related facilities or workforce in Russia.

Which gets us back to those rumors of the U.S. government dropping $4.3 billion into the U.S. uranium sector.

Obviously, that kind of government money will move the needle for the overall industry.

With the prospect of $4.3 billion dangling out there, we may see mines hiring miners, mills hiring new workers, processors hiring people, solid demand for engineers and scientists (from where/what schools, one might ask?).

We’ll also see demand for all manner of new equipment with which to do the work, because much of the legacy U.S. nuclear complex is old and in bad shape, if not closed and idled.

But really, don’t kid yourself. This proposed – rumored – whack of new government money will not solve the nation’s nuclear problem. There are some things you just cannot buy with money, and creating an instant workforce in the nuclear sector is one of them.

Doubtless, many nuclear-related companies will benefit from an infusion of federal funds. Think of Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR), Fission Uranium Corp. (TSX: FCU | OTCQX: FCUUF), Ur-Energy Inc. (NYSE American: URG | TSX: URE), Uranium Energy Corp. (NYSE American: UEC) and more.

Canada’s Cameco Corp. (TSX: CCO | NYSE: CCJ) will likely benefit as well, along with the Global X Uranium ETF, an exchange traded fund focused on the uranium sector.

And there are downstream firms that will benefit over time. These include Centrus Energy, a Maryland-based firm that is building an enrichment facility in Ohio, and ConverDyn, a joint venture between Honeywell International Inc. and General Atomics that provides uranium conversion services.

So, we’ll wait and see what happens here. Federal money? Well, it’s nice and will create some great trades. But to build a new U.S. nuclear sector will take a generation, plus… a serious plan written by serious people.




Mark Chalmers of Energy Fuels talks about acquiring a major rare earths project in Brazil

In this InvestorIntel interview with host Jack Lifton, Energy Fuels Inc.‘s (NYSE American: UUUU | TSX: EFR) President and CEO Mark Chalmers talks about returning from Brazil with a signed agreement for the acquisition of the major rare earths Bahia Project.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Mark discusses the 60 square mile acquisition of the very high quality heavy mineral sand deposit by Energy Fuels north of Rio de Janeiro. “This is a big step for our company,” Mark explained, “as it could supply ultimately because of its size between 3,000 to 10,000 tons a year of monazite sand.” This could translate into between “1500 to 5 000 tons of REO per year,” he continued, making it “important as a base load for the White Mesa mill.”

Mark also talks about how the Bahia Project, expected to close in 90 days subject to due diligence, is a step towards Energy Fuels’ vertical integration plan for producing rare earth products, which is already shipping high purity mixed rare earth carbonate from its White Mesa mill in Utah to customers. He also discussed a recent announcement that Energy Fuels has signed three material contracts with two major U.S. nuclear utilities to supply uranium products.

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About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up commercial-scale production of rare earth element (“REE“) carbonate. Its corporate offices are in Lakewood, Colorado, near Denver, and all its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR“) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, and has the ability to recycle alternate feed materials from third parties, to produce vanadium when market conditions warrant, and to produce REE carbonate from various uranium-bearing ores. Energy Fuels is also evaluating the potential to recover medical isotopes for use in targeted alpha therapy cancer treatments. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3Oper year. In addition to the above production facilities, Energy Fuels also has one of the largest SK-1300/NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.

To learn more about Energy Fuels Inc., click here

Disclaimer: Energy Fuels Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

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In-house production key to making Energy Fuels the world’s lowest cost producer of rare earth metals

Energy Fuels takes giant step towards complete, in-house, vertical integration in the production of rare earth permanent magnet alloys

Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) has just this week announced that it will buy, subject to due diligence, a huge Brazilian deposit of heavy mineral sands, which it will mine to produce a concentrated mineral mix that will contain zircon, ilmenite (titanium), and monazite. This concentrate is expected to be sold to partner companies, which will extract the zircon and ilmenite as payables, and the residual monazite, a waste product in zircon/ilmenite processing, will be conveyed at a nominal cost (as part of the arrangement to supply the heavy mineral sands to partners) to Energy Fuels’ White Mesa, Utah, where the monazite will be cracked and leached to extract a clean rare earth content as a mixed carbonate and to extract and sell or legally dispose of its uranium and thorium content.

Energy Fuels is already buying, and processing monazite produced in the above way from the zircon/ilmenite operations of Chemours in Georgia, but the Brazilian purchase will allow Energy Fuels to diversify and lower its cost of monazite concentrates.

The in-house production of monazite rich heavy mineral sands by Energy Fuels will be the foundation of its program for the vertically integrated (in-house) production of rare earth metals and alloys from (in-house) separated and purified individual and blended rare earth salts.  

Energy Fuels operates the only operating uranium processing “mill” in the United States and the only facility in the United States in the U.S. capable of processing monazite for the recovery of uranium for sale to nuclear power plants, and the recovery or legal disposal of the thorium and other radionuclides associated with monazite. 

The company has already begun processing purchased monazite into a mixed rare earth carbonate, and currently has the capacity to produce thousands of tons of such mixed rare earth carbonates per year. Energy Fuels’ mixed carbonate is the most advanced rare earth product being produced at a commercial scale in the U.S. today. The company is also making major strides in producing separated and refined individual and blended rare earth products at its mill.

Comparatively, monazite contains up to 50% more of the recoverable core magnet metals, neodymium and praseodymium than the bastnaesite mined at Mountain Pass, California.

Energy Fuels is finalizing a scoping study for a dedicated, rare earths, solvent extraction separation system and is finalizing the commercialization of a new rare earth metals and alloys production process demonstration.

Within 24-36 months Energy Fuels has the potential to be the world’s lowest-cost producer of separated individual rare earths and will therefore the lowest cost producer of rare earth metals and alloys. No government subsidies have been needed. Just managerial knowledge, experience, and skill. 

Energy Fuels already is a major domestic supplier of uranium and vanadium In fact, the company announced at its AGM, earlier this week, that it has signed a decade long supply deal with two American utilities to provide them with more than 4,000,000 lbs of uranium. This contract will bring in more than USD$200,000,000 over its life. 

Energy Fuels is a producing and growing domestic American critical metals processing hub.

Disclosure: Jack Lifton is a member of  the Advisory Board for Energy Fuels Inc., and may hold securities or options in some of the companies mentioned in the above article.




America’s Energy Fuels offers investors a way to make the “green” revolution happen in the USA

This decade is all about converting our society from fossil fuels to green energy and establishing locally sufficient and secure supply chains. If we agree that nuclear is the best form of base-load electricity to get us off of fossil fuels, then that makes uranium the key green energy source. Solar and wind will also play an important role in future years but are at best intermittent sources of electricity so that they require that lithium-ion and vanadium batteries be used for energy storage. Our motor vehicles will increasingly be powered by electric motors of the permanent magnet type, the best of and most efficient of which are those made from the magnet rare earths (Nd, Pr, Dy, Tb) and “fueled” from  rechargeable storage batteries onboard the vehicles,

To make the “green” revolution happen in the USA a local supply chain must be developed to supply the key and critical materials to manufacture the electricity required and the batteries required to store that electricity until it is needed. This is why late last month the White House released a fact sheet: “Securing a made in America supply chain for critical minerals.

We can see by the price action below (for the full year 2021) how demand for key metals is pushing up prices:

  • Uranium oxide – Up 38%.
  • Neodymium-Praseodymium oxide (NdPr) – Up 112%.
  • Vanadium oxide – Up 62%.

Source

Note: Prices for each of these commodities have continued to show significant strength in 2022, especially uranium.

Today’s Company is the USA leader in uranium production processing, which also has vanadium production processing, and is a growing rare earths processor, which today is America’s only producer of the mixed rare earth carbonates required by the rare earth industry as a feedstock for the manufacturing of individual and blended rare earth chemicals used in the production of rare earth permanent magnets.

Energy Fuels Inc.

Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) has been very busy for the past two years. While others were talking, Energy Fuels was taking action. The Company has been building up uranium & vanadium inventory and producing and selling mixed rare earths’ products,

Financial results of a net income of US$1.5 million for 2021 are very deceptive, as Energy Fuels chose not to sell uranium and was still in the process of developing its rare earths processing capabilities and securing additional feed sources. In fact, Energy Fuels is sitting very nicely as they state in their March 2022 update:

“At December 31, 2021, the Company had a robust balance sheet with $143.2 million of working capital, including $113.0 million of cash and marketable securities, $30.8 million of inventory, and no short term (or long term) debt. At current commodity prices, the Company’s December 31, 2021 product inventory would have a value of approximately $60.6 million…….While the Company chose to not sell any uranium during 2021, it is now actively engaged in pursuing selective long-term uranium sales contracts.”

Uranium prices have almost doubled the past year

The current uranium price is US$57.25/lb, almost double that from a year ago when it sat at about US$30/lb. This means it makes sense for Energy Fuels to “actively engaged in pursuing selective long-term uranium sales contracts”. This may allow Energy Fuels to dramatically ramp up revenues in 2022.

Furthermore, if we get a uranium supply chain disruption from Russia controlled Kazakhstan (41% of supply) or Russia (6% of supply) we may see uranium prices move well above US$100/lb.

Energy Fuels would be in pole position to start selling their uranium inventory and ramping up U.S based uranium production.

Energy Fuels is the leader in U.S. uranium production used for nuclear fuel that can be used for fossil free U.S. electricity

Source: Energy Fuels website

China dominates rare earths supply

Around 85% of the global supply of rare earths comes from China. Should the USA and China have any type of “trade war” or disagreement over the current Russia-Ukraine war, China could choose to stop exporting rare earths products to the USA. Just as with uranium, this would have crippling consequences for the USA.

There are very few secure and available sources of rare earths outside of China. U.S. based Energy Fuels would suddenly become a key and critical supplier.

Energy Fuels is rapidly moving to grow their range of rare earths products. In their March update the Company stated:

  • “The Company produced approximately 270 metric tonnes of mixed rare earth element (REE) carbonate (RE Carbonate), containing 120 metric tons of total rare earth oxides (TREO) during 2021, as it commenced ramping up its REE recovery infrastructure. Energy Fuels’ RE Carbonate is the most advanced REE material being produced in the U.S. today.
  • The Company is currently in active discussions with several sources of natural monazite sands around the world to significantly increase the supply of feed for its growing REE initiative.
  • During Q1-2022, the Company began commercially separating Lanthanum (La) and Cerium (Ce) on a small scale from its RE Carbonate, using an existing solvent extraction circuit at the Mill. This represents the first commercial level REE separation to occur in the U.S. in many years.
  • The Company is planning to install a full separation circuit at its White Mesa Mill (the Mill) to produce both “light” and “heavy” separated REE oxides in the coming years, subject to successful licensing, financing, and commissioning, and continued strong market conditions.”

Energy Fuels is producing rare earths used in many electric vehicles and wind turbine electric motors

Source: Energy Fuels website

Energy Fuel CEO & President, Mark Chalmers, summed up Energy Fuels nicely, stating:

“In 2021, we believe Energy Fuels further strengthened its position as America’s leading multi-commodity, critical mineral company, as we made excellent progress on our uranium, REEs, vanadium and medical isotope initiatives. We are deploying our ‘one-of-a-kind’ licenses, facilities, and expertise to responsibly recover the critical elements needed for carbon-free nuclear energy, electric vehicle powertrains, wind generation, advanced electronics, grid-scale batteries, other clean energy and advanced technologies, and potentially cancer therapeutics.”

Note: Bold emphasis by the author.

Closing remarks

Energy Fuels offers investors a critical materials (uranium, vanadium, rare earths) growth play, as well as an investment that can outperform if either Russia (uranium) or China (rare earths) decide to punish the USA.

What a great combination! Growth as the green revolution takes off and protection from Russia and/or China in the unfortunate case that the geopolitical environment gets worse.

Energy Fuels trades on a market cap of C$1.911 billion (US$1.516 billion).